The Latest in Westchester County Business News, June 22, 2017
Bill Clinton hits Armonk for a solar panel launch, a new disaster response and bioterrorism training center, and more news from the county's business scene.
PHOTO COURTESY OF SWISS RE
Bill Clinton Joins Swiss Re to Launch Solar Array in Armonk
Global reinsurer Swiss Re, with assistance of special guest, former president Bill Clinton, launched a massive solar array at its Unites States headquarters on June 16. The ribbon-cutting ceremony celebrated the launch of the two-megawatt array that will provide 60 percent of the power to the 700 employees of the Armonk office. Clinton acknowledged that Swiss Re has been addressing climate change for more than a decade and commended their actions in utilizing a reusable source. Swiss Re is also a part of RE100, a group of corporations set to switch to 100 percent renewable energy sources by 2020. Swiss Re America’s CEO and President Eric Smith takes pride in this important initiative. “We understand the science behind climate change, we have been committed to it for many, many years.”
New Training Center for Bioterrorism and Disaster Response at New York Medical Center
New York Medical College in Valhalla recently opened their new Center for Excellence on June 8 with a training program for medical responders. With a $500,000 initial grant from Empire State development, the medical center will develop an “austere medicine” facility for first responders to simulate situations of accidents, active shooters, and more. The Center for Disaster Medicine at the college has previously partnered with the U.S. Department of Defense, and they hope that the Center for Excellence will help to increase funding for those programs.
iAnthus Capital Holdings Inc. Buys Valley Agricueticals, A Medical Marijuana Company
Purchase-based iAnthus Capital Holdings Inc. has integrated Valley Agricueticals LLC, a physician-prescribed cannabis provider in the New York area, for $17 million. While iAnthus already has partners and locations in multiple states, Valley Agricueuticals recently gained one of the 10 new medical marijuana licenses to operate in New York. The company has been granted one cultivation and processing facility and four dispensaries in the area. President Randy Maslow notes that the large population with significant patient growth makes the New York area an ideal base. Valley Agricueuticals CFO Philip Green claims that at the current acceleration of growing need, the New York area could become “one of the largest medical marijuana markets in the U.S.”
GDC Opens 3 Westerly Bar & Grill in Ossining’s Harbor Square
On June 1, Ginsburg Developing Companies and local officials joined to celebrate the grand opening of 3 Westerly Bar & Grill. The new nautical-themed restaurant located at the Harbor Square luxury rental complex brings deluxe, mainly seafood dining to the Hudson Valley. 3 Westerly is home to spacious indoor and outdoor dining areas, a full-service beer garden and a sunset terrace, surrounded by Hudson River views. GDC confirms that the opening of 3 Westerly marks the completion of Harbor Square, the luxury rental complex home to the waterfront restaurant, a ferry dock, children’s playground, and promenade.
Luxury Rental Complex Opening in Mamaroneck
The first major residential development in 20 years, Halpern Real Estate Ventures and Rosen Management opened their new 100-unit loft-style apartment complex on Thursday, June 15. Located at 270 Waverly Avenue in Mamaroneck, the complex combines three adjacent buildings with a variety of apartment styles, from one bedroom to townhomes. It is located across the street from the Mamaroneck Metro-North station and right near the village, overlooking the downtown area.
GDC Set to Transform Former Convent Site into Tourist Destination
On June 13, Ginsburg Developing Companies and Peekskill and Westchester County officials broke ground on a $64.5 million project to transform the former property of St. Mary’s convent into Fort Hills at Abbey Inn. The location will include 178 luxury apartments featuring a fitness center, clubroom, and a pool along with Abbey Inn’s 42 room hotel, restaurant, and spa. Founder and Principal of GDC Martin Ginsburg notes that GDC plans to donate 52 new acres to the local historic Fort Hill Park, preserving historical architecture while adding a new restaurant and hiking trails. With the opening of four major luxury rental projects in Westchester within the past 12 months, GDC has become the most active luxury residential developer in the area.
19 Area Stores Up for Retail Bankruptcy
According to a Moody’s Investors Service Report, 22 national retailers are at risk of bankruptcy, 19 of which have stores in New York. In Westchester, these stores include:
Charlotte Russe: White Plains and Yorktown Heights
Charming Charlie: Ridge Hill, Yonkers
Claire’s Stores: White Plains and Yonkers
Cole Haan: White Plains
David’s Bridal: Yonkers
Fairway Market: Pelham
Gymboree: White Plains and Scarsdale
J. Crew: White Plains
Kmart: White Plains
Neiman Marcus: White Plains
Nine West: Port Chester
Sears: White Plains and Yonkers